Case Brief
The Reserve Bank of India imposed a monetary penalty on Ebix Payment Services Private Limited by order dated April 17, 2026. The penalty was levied under Section 30(1) read with Section 26(6) of the Payment and Settlement Systems Act, 2007 after a statutory inspection covering June 2024 to May 2025 and a subsequent show-cause process. RBI found that the company had not carried out risk categorisation of its customers, constituting non-compliance with RBI directions on Know Your Customer.
Action Snapshot
- Primary Impact
- Fine: Rs 80,000
- Entity Type
- Payment entity
- Action Type
- Monetary penalty